Risk & Compliance Manager, PFA (1 Year Contract)

Prudential Services Asia; Singapore; On-site; SGD 120,000 - 180,000; Full time

Job summary

Prudential Services Asia in Singapore seeks an experienced regulatory and risk professional to oversee compliance, assess risks and design risk and compliance programs. You will work with business units to translate regulations into actions, document controls, and monitor internal policies.

The role requires 6-8 years in risk and/or compliance within the insurance sector, a degree in any discipline, and strong communication with stakeholders across levels of seniority.

Qualifications

• Experience in regulated insurance financial institution and familiar with all applicable statutes, rules, and regulations relevant to the Financial Advisers industry.
• Excellent communicator, ability to translate regulatory requirements relevant to the business and representatives.
• Nimble and flexible to change, able to adapt to fast-paced and changing situations.
• Experience in Compliance and Risk processes.
• Organized and meticulous.

Responsibilities

• Develop and implement company policies, Group’s requirements, and regulations.
• Provide guidance and assistance to business units regarding relevant regulations specific to the insurance industry.
• Integrate regulatory requirements into business plans and processes.
• Stay informed about insurance regulations, consultation papers, and new pronouncements.
• Collaborate with business functions to document controls related to risk management, compliance with insurance laws and regulations, established compliance programs, internal controls, and operational processes.
• Assist in monitoring control systems to deal with violations of regulations and internal policies.

Skills

Regulatory compliance

Risk management

Insurance industry

Stakeholder management

Regulatory communication

Adaptability

Education

Degree in any discipline

Job description

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Your role is crucial for ensuring that the company operates within legal boundaries, adheres to regulations, and maintains ethical standards. Your responsibilities include overseeing regulatory compliance, assessing risks, and designing and implementing risk and compliance programs. Effective communication, analytical thinking, and ethical integrity are essential skills for success in this role.

Job Description:

• Develop and implement company policies, Group’s requirements, and regulations.
• Provide guidance and assistance to business units regarding relevant regulations specific to the insurance industry.
• Integrate regulatory requirements into business plans and processes.
• Stay informed about insurance regulations, consultation papers, and new pronouncements.
• Ensure that these updates are incorporated into the procedures and disseminated to the relevant key stakeholders.
• Identify risks that could impair the company's reputation, information security, or general operations and implement ways to mitigate or eliminate them entirely.
• Collaborate with business functions to document controls related to risk management, compliance with insurance laws and regulations, established compliance programs, internal controls, and operational processes.
• Work with relevant business units to address regulatory requirements and implement relevant measures to address identified risks.
• Clearly articulate compliance-related matters to representatives and/or business units.
• Assist in managing internal audit reviews/projects related to financial, operational, and sales advisory process aspects specific to risk and compliance.
• Assist in monitoring control systems to deal with violations of regulations and internal policies.
• Review existing processes relating to data privacy, regulatory, sales compliance and financial crimes requirements.
• Provide regular and/or ad-hoc reporting to relevant governance forums.
• Undertake ad-hoc tasks, projects or reviews as directed by Head of Risk and Compliance.

Who we are looking for:

• Experience in regulated insurance financial institution and familiar with all applicable statutes, rules, and regulations relevant to the Financial Advisers industry. These may include the Financial Advisers Act, MAS Codes, Notices, Guidelines, and AML/CFT regulations.
• Excellent communicator, ability to translate regulatory requirements relevant to the business and representatives.
• Nimble and flexible to change, able to adapt to fast-paced and changing situations.
• Experience in Compliance and Risk processes.
• Organized and meticulous.
• Stakeholder management, enjoys working with people at all levels of seniority.

Working Experience:

At least 6-8 years of working experience in risk and/or compliance roles. This experience is preferably gained within the insurance industry. Exposure to the Financial Advisers sector, regulatory compliance, and risk management is highly valuable.

Education:

Degree in any discipline.

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law.

We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location.

We also allow for reasonable adjustments to support people with individual physical or mental health requirements. We are Prudential.

We are Prudential. For every life, we are partners. For every future, we are protectors. Prudential plc provides life and health insurance and asset management to 17 million customers across 20 markets in Asia and Africa. We are headquartered in Hong Kong and have dual primary listings on the Stock Exchange of Hong Kong and the London Stock Exchange. We are focused on four strategic regions: Greater China, ASEAN, India and Africa. Our customers are served by around 55,000 agents and more than 200 bank partners.

Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America or with the Prudential Assurance Company, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

Find out more at www.prudentialplc.com Follow us on LinkedIn